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Questioning an economic advisor

Regarding the article "Rely on the Fed and Don't Panic, Former Advisers Say," Dec. 12: I am confused by some of Beryl Sprinkel's remarks.

Dr. Sprinkel, chairman of the Council of Economic Advisers during the Reagan presidency, criticizes investment tax credits because they favor capital-intensive industry over service industries. He also advocates higher depreciation allowances by shortening an asset's life.

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Isn't this an inconsistency in Sprinkel's prescription? After all, aren't capital-intensive industries the primary beneficiaries of accelerated depreciation allowances? Thomas S. Hornbaker, Seattle

Letters are welcome. Only a selection can be published, subject to condensation, and none acknowledged. Please address them to "Readers Write," One Norway St., Boston, MA 02115.

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